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By Benedicte Gravrand, Opalesque London: A roundup of last week’s hedge fund launches, closures, index performance, trends, regulatory, legal and financial events pertaining the alternative investments world.

Last week, we heard of fund and platform launches from Permal Investment Management Services, SteelTeam, KMK, Compass, Minuteman, Valens Capital and Laurus, Galena, ARCH Financial, Informed Portfolio Management, La Fayette, Russell Investments, Finvest A.M., Arcoda, Swiss-Asia, and CopperTree. Nick Roditi set up Belvedere Investment Partners, an asset manager in London that will focus on Asian investments.

Gartmore stopped its L/S hedge fund launch over the shorting ban and YouGov abandoned its hedge fund plans due to lack of funds.

Threadneedle was said to plan new hedge fund despite collapse of its long/short credit fund; Absolute Capital decided to close two of its hedge funds; Highland Capital also shut two of its funds, and rumors said Tontine Partners was under liquidation. Many funds announced negative results, notably Citadel 's which fell 30%. Watson Wyatt reported that top fund managers had posted the slowest asset growth in five years.

Morningstar Hedge Fund Index dropped 7.87% in September, -13.17% in 3Q, the RBC Hedge 250 Index went down 7.67% (est.), -13.17% YTD, the Credit Suisse/Tremont Hedge Fund Index was down 6.55%, -9.87%YTD, the HFRI Fund Weighted Compo......................

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